Nifty and Bank Nifty Prediction for Tomorrow 27 May 2022
Nifty and Bank Nifty Prediction for Tomorrow 27 May 2022: Indian equity markets opened higher on Thursday tracking positive cues from Wall Street overnight. The benchmark indices turned negative soon after opening. In the second half, the indexes sharply rebound from the day’s low on the back of buying in Metals, Banking, and Financial Services stocks
The broader markets also gained in line with their larger peers. In the end, the key indices, Sensex, and Nifty gained nearly a percent today. You can read the detailed market updates here
Nifty and Nifty Bank futures price movement for 26 May (May Expiry)
The Nifty futures price opened at 16091.60, making a positive opening of 77.8 points. It has touched an intraday high of 16178.70 and a day’s low of 15885.10
The Nifty futures price has given a movement of 293.6 points today. In the end, it closed higher by 155.25 points or 0.97 percent and ended at 16169.05 levels.
The Bank Nifty futures opened at 34551 It made a positive opening of 220. 85 points. The Bank Nifty futures has touched an intraday high at 35124.90 and a day’s low at 34410
During the day, the Bank Nifty futures has given a movement of 714.90 points. In the end, it closed higher by 769.70 points or 2.24 percent and closed at 35099.85 levels.
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Nifty & Bank Nifty Prediction for Tomorrow 27 May 2022 ( June Expiry)
Nifty Futures Prediction for Tomorrow 27 May 2022
Primary Nifty Trend in futures: Positive with Cautious Bias
Range-Bound Trend of Nifty Futures: All up Moves Initiates Profit Booking (Sale) @ 16350 whereas All Down Moves Initiates Short Covering (Buy) @ 16050
If the Nifty futures share price Moves Above 16209 and sustain. Then you should Buy with 1st Target of 16247 during the day with a Stop Loss of 16180 FOR the Target of 16247- 16285- 16325- 16368
If the Nifty futures share price Moves Below 16132 and is sustained. Then you should Sell with the 1st Target of 16090 for the day with a Stop Loss of 16170. FOR the Target of 16090- 16038- 15985- 15960
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Bank Nifty Futures Prediction for Tomorrow 27 May 2022
Primary Trend of Bank Nifty Futures: Positive with cautious bias
Range-Bound Trend of Bank Nifty Future: All up Moves Initiates Profit Booking (Sale) @ 35700 whereas All Down Moves Initiates Short Covering (Buy) @ 35200
Suppose the Bank Nifty futures Moves Above 35410 and sustain, then you should Buy with the 1st Target of 35540 during the day with a Stop Loss of 35170 the Target of 35540- 35670- 35815- 35960
If the Bank Nifty futures Moves Below 35018 and sustain, then you should Sell with the 1st Target of 34855 the day with a Stop Loss of 35125. FOR the Target of 34855 – 34770 – 34640 – 34555
Global Stock Markets today
On the global front, the other Asian market indexes mostly closed in the red as South Korea’s central bank announced its second consecutive rate hike, adding 25 bps to its base rate. The Asian markets sentiments were downbeat despite positive cues from Wall Street as China’s premier delivered a subdued assessment of the country’s economic struggle.
European markets are trading mostly higher on Thursday following the late-session rally in the US markets boosted by the US Federal Reserve’s latest minutes. The US futures, Dow Jones, and Nasdaq futures are trading higher at this moment at 5.30 pm IST.
Conclusion
Indian markets witnessed a short covering in the second half on the monthly F&O expiry day. The uncertainty in the markets still persists due to the surge in inflation, interest rate hike, and Ukraine war. Though we may see a relief rally for a day or two, markets will again turn negative and remain choppy in the near term.
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